Question: For the last section, how do you get a debit amount for cash of $49,000, a retainer earnings amount of $6,000, and a credit to
A cash dividend of $20,000 is declared. The above cash dividend is paid. A stock dividend (10,000 sharesof common stock) is declared. The par value of the stock is $10 per share and the current market value is $16 per share. The above stock dividend is distributed 1,000 shares of the company's $50 par value common stock is purchased for $55 per share. The above stock is sold for $49 per share
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